HCMC – PetroVietnam Drilling and Well Services Corporation (PV Drilling) said on Tuesday it expects its 2026 net profit to fall 24% from a year earlier, citing geopolitical risks, rising competition and uncertainty in regional drilling markets.
The company, listed on the Hochiminh Stock Exchange (HOSE) under ticker PVD, set a consolidated after-tax profit target of VND800 billion for 2026, down from more than VND1.05 trillion in 2025, while revenue is projected to ease about 3% to around VND11.19 trillion.
Speaking at the company’s annual shareholders meeting, Nguyen Xuan Cuong, PVD’s president and board member, said the outlook was based on projected global economic growth of around 3.1% to 3.2%, in line with estimates from the International Monetary Fund and the OECD.
He said the Southeast Asian drilling market was broadly balanced, though temporary supply shortages could emerge at times.
PV Drilling said domestic challenges included inconsistent drilling programs, a lack of long-term contracts and stronger competition from private firms. Overseas expansion was being complicated by protectionist measures and localization requirements in several markets.
Closing the trading session today, April 21, PVD lost 1.07% against yesterday’s session to VND32,500, with more than 2.8 million shares changing hands.
On the southern bourse, the VN Index fell 3.63 points, or 0.20%, to 1,333.48, with 99 gainers and 227 decliners.
Total trading volume reached more than 866.6 million shares worth VND24.9 trillion, up nearly 26% in volume and 15% in value from the previous session. Block deals accounted for more than 115 million shares worth VND3.1 trillion.
VIC and VHM, which had climbed as much as 4% to 5% earlier in the session, pared gains by the close. VHM ended up 0.5%, while VIC rose just over 1% to VND193,700.
Among blue chips, STB was the standout performer. Although it retreated from its daily limit, the stock still jumped 5.5% to VND67,700, with trading volume exceeding 14.1 million shares.
The HNX had 44 gainers and 94 decliners, with the HNX-Index falling 4.06 points, or 1.58%, to 253.27. More than 67.7 million shares worth VND1.2 trillion were transacted.
